Odyssey Private Equity, Sydney, told Green Markets on Dec. 30 that it has no deal and there are no negotiations for it to buy a stake in privately-held Delta Agribusiness, an agricultural retailer with some 28 locations in New South Wales. Australia’s Financial Review had reported earlier that Odyssey was eyeing a minority stake in Delta Ag. Odyssey said the story was simply a rumor.
Odyssey manages $275 million and invests in mid-sized growth companies in Australia and New Zealand.
Delta, which has a full-service model, supplies multiple inputs, including fertilizer, with some 40 farm advisors. It employs 230 people and encompasses Lachlan Fertilizers Rural at Grenfell and Cowra. The company is owned by employees and board members.
The company reported A$4 million in profits on revenues of $200 million for the year ending June 30, 2018, according to the Financial Review, citing filings, with assets valued at $46.5 million.